Islamabad, Nov 12: The federal government has decided to allocate Rs. 163 billion to redirect imported liquefied natural gas (LNG) from the power sector to residential consumers due to reduced electricity demand, according to sources in the Petroleum Division. This move is aimed at balancing seasonal demand but will require a large amount of public funds. It is also expected to ease pipeline pressure caused by the daily addition of imported gas. The power sector had previously used up to 600 million cubic feet (MMCF) of LNG, but the shutdown of captive power plants has created a surplus of around 150…
Author: Mawadat Fatima
Islamabad, Nov 12: Heavy snowfall at Khunjerab Top, located at the Pakistan-China border in Gilgit-Baltistan, has caused three passenger vehicles and several cargo trucks to become stranded. Passengers trapped at 15,000 feet are urgently requesting rescue. The Khunjerab Pass, situated over 15,000 feet above sea level, is typically closed during the winter due to freezing temperatures and low oxygen levels. The upper regions of Gilgit-Baltistan are experiencing intermittent heavy snowfall, leading to major travel disruptions. Moreover, a fresh wave of rain and snow has begun in Azad Jammu and Kashmir, with dark clouds over Muzaffarabad indicating heavy rain. The Mahodand Lake…
Islamabad, Nov 12; Pakistan leads the list for the highest Schengen visa rejections in Spain, according to recent statistics from Schengen Visa Info. In 2023, 52.84% of Pakistani visa applications were refused, the highest rejection rate among all nationalities. Nigeria ranked second with 49.85%, while applicants from Gabon, Guinea-Bissau, and Ghana also saw high rejection rates, ranging from 43.4% to 48.21%. Pakistan experienced 9,766 visa denials, showing a clear imbalance in approval rates. This data reveals that applicants from Pakistan and similar regions are disproportionately impacted by high rejection rates in Spain. Spain remains a top destination within the Schengen…
Islamabad, Nov 12: The Khyber Pakhtunkhwa government plans to expand the Sehat Card Scheme by adding more public and private hospitals. Chief Minister Ali Amin Gandapur directed authorities to hold a meeting for final approval of hospitals that meet the scheme’s quality standards. He gave these instructions while chairing a Health Department meeting on Monday, according to an official handout. The meeting included Advisor to the Chief Minister on Health Ehtesham Ali, Additional Chief Secretary Ikramullah Khan, Secretary Health Syed Adeel Shah, and officials from the Health Department and its organizations, including the Khyber Pakhtunkhwa Health Foundation and Sehat Card Plus.…
Islamabad, Nov 12: Govt Offers Tax Breaks and Lower Import Duties for New Energy Vehicles in 2024 The government has initiated consultations for the New Energy Vehicle (NEV) Policy 2025-30, designed to transform the transportation sector and reduce carbon emissions. On Monday, the Ministry of Industries brought together automakers to discuss the policy’s focus on promoting local NEV production, decreasing reliance on fossil fuel imports, and lowering carbon emissions. The meeting explored incentives to boost NEV production, such as tax exemptions, reduced import duties on components, and green financing options for businesses investing in eco-friendly technologies. However, automakers raised concerns…
Islamabad, Nov 12: The Federal Tax Ombudsman (FTO), Dr. Asif Mahmood Jah, has instructed the Federal Board of Revenue (FBR) to address discriminatory sales tax registration. This came after a business forum filed a complaint about the sales tax registration process. The complainant wanted single-shop retailers removed from the Tier-1 list, which requires them to integrate with the FBR’s Point of Sale (POS) System. According to SRO 608(1)/2014, retailers with shop areas of 1000 sq ft or more must integrate with the FBR POS System. The complainant argued that sales tax should be based on turnover, not shop area. The…
Islamabad, Nov 12: The 10th edition of Dubai Design Week ended on Sunday at the Dubai Design District (d3), solidifying Dubai’s position as a global design hub. This year’s event was the largest yet, with over 500 exhibitors and creative leaders from more than 40 countries, showcasing the UAE’s commitment to global talent and cultural exchange. Dubai Design Week strengthens the city’s cultural identity by uniting diverse voices and artistic expressions. This year’s event emphasized multicultural representation, with artists from Palestine, Iran, India, and the UAE. Dutch artist Linda Nieuwstad, known for her colorful flower sculptures, praised Dubai as a…
Islamabad, Nov 12: Islamabad is preparing for unpredictable weather. The Meteorological Department has issued an update, warning of rain and sunshine. The forecast predicts light to moderate rain throughout the day. Some areas may experience heavier showers. A weather system moving across northern Pakistan is influencing the city’s climate. This rain will provide relief from the recent heatwave and reduce humidity. There will also be sunny intervals, making the weather changeable. The maximum temperature is expected to be around 30°C, with high humidity. Evening temperatures will drop slightly, offering some relief. Residents are advised to stay updated on the weather,…
Islamabad, Nov 12: On Tuesday, Samba Bank, a subsidiary of the Saudi National Bank (SNB), shared an update with the Pakistan Stock Exchange (PSX) about its shareholding plans. The notice stated that, after due diligence and reviewing options to sell its shares in Samba Bank Limited, SNB has decided to stop the sale process. In April, Bank Alfalah Limited (BAHL), a major commercial bank in Pakistan, expressed intent to buy a majority stake in Samba Bank Limited. The notice read, “We announce that M/s Arif Habib Limited, as offer manager, has submitted a public announcement to acquire up to 84.51%…
Islamabad, Nov 12: Sazgar and Suzuki Lead the Charge in Car Sales with Astronomical Increase Research on Pakistan’s automotive industry shows that car sales increased by 27% month-over-month (MoM) in October 2024, with 13,108 cars sold. This translates to a YoY growth of 112 per cent, and as the numbers from the Pakistan Automotive Manufacturers Association (PAMA) depict it. The sales of first four months of the FY25 were 40,693 units, which is increase from the 27,162 units of the same period of the last fiscal year. This growth is primarily attributed to improved access to funds, a more positive expectation…
